Oris chairman sees Franc crisis as an opportunity


Oris executive chairman Ulrich W. Herzog has issued a statement regarding the financial turmoil caused by the Swiss National Bank’s decision to abandon the Franc/Euro currency peg.

Pragmatic in the face of the decision which has seen Swatch Group and Cartier raise prices of their luxury watches across the Eurozone, Herzog states that he sees this, and any other, crisis as a ‘chance’.

Despite being shocked at the national bank’s decision and admitting that the situation will call for ‘some extraordinary measures’, Herzog believes the Swiss watch company is in a good position to deal with the crisis.

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He said: “We shouldn’t brood on the decision of the Swiss National Bank but instead take the view that crises are chances. We will carefully chose the right measures, look ahead and take action in order to keep costs under control, and to make sure Oris customers continue to find pleasure in our innovative watches. We are a lean and efficient company and I know we are capable of coping with the new situation. Oris values will be more appropriate today than ever before.”

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James Buttery

The author James Buttery

Editor of WatchPro, the WatchPro Hot 100 and The Luxury Report.